gbp usd weekly-1.4250 is strong support tgt 1.46-14750

Gbp usd forex weekly technical analysis 9 to 13 may 2016 Gbp usd forex weekly technical analysis 16 to 20 may 2016 Gbp usd pair this week closed with loss. This was second weekly loss for pound after strong bounce back.   For next week, gbp/usd forex outlook remain bullish and strategy remain buy on dips as brexit seems to be impractical.   On downside pound dollar has strong support areas around 1.4250 and 1.4125. On upside expect strong resistances at 1.46 and 1.4750.   Investors closely watch 1.4650 weekly closing basis breakout for long term reversal rally in pound.   On monthly chart, pound has formed bottom around 1.39 and heading towards medium term technical bounce back tgt 1.52.

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